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A British expat living in Spain was left facing a financial crisis when they couldn’t access hundreds of thousands of pounds of savings from their UK Barclays account, due to new rules introduced post-Brexit. Last year, expats were informed by several UK banks they could only keep their accounts if they were permanently resident in Britain.

The banks claimed the provision of their services to Brits living in EU countries was too costly and difficult due to new legal requirements and bureaucratic procedures after Brexit.

This decision put tens of thousands of expats across the bloc into a difficult position, as it threatened their ability to access their pensions paid into their UK accounts, as well as their pound savings.

A UK citizen living in Spain recently found themselves in serious trouble, after being unable to access hundreds of thousands of pounds of cash previously held in a Barclays account.

The Brit said they had been left £350,000 by their dad, when he died seven years ago.

Currently unemployed, the resident needs the money to live on and to make ends meet.

They claimed they had been trying in vain for four months to access the money from Barclays, filling out countless forms in the process.

The Brit said they were forced to borrow money from friends to get by.

“There was £350,000 sitting in my account, left to me by my father when he died seven years ago.

“I had considered transferring some of it to Spain, but concluded my British bank was more reliable!

“I filled in the form to reclaim my money and, despite being advised it would be sent within 10 to 15 working days, it did not arrive.

“After many calls to the Barclays helpline I discovered there was a problem with the documents I had sent, so I went through the process again in February.

“But it was to no avail.

“It is now four months later, and I still have no access to my money, or an explanation as to what the problem might be.”

Since the publication of the letter, Barclays has resolved the issue and sent the money to Spain.

In a statement, the bank said: “Following a strategic review of the products and services offered by Barclays UK across the European Economic Area, a decision was made for these to only be available for customers residing in the UK.

“This is not a decision we take lightly, and appreciate the impact this can have on our customers.

“We had contacted our customer a number of times over the course of six months, notifying of the planned closure of the account.

“We can confirm the funds have since been released to our customer.”

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Some enterprising expats are using so-called challenger banks to receive payment of their UK private pensions and then have the money transferred to them abroad without incurring further charges.

One of the most popular challenger banks is Revolut, which allows Brits abroad to have a UK account number and sort code into which their pensions and investments can be paid.

The expats are able then to use their accounts for payments in their country of residence without incurring additional charges.

However, Brits had to be living in the UK when they first opened their Revolut account to benefit from the situation.

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